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Home Loan EMI Calculator
Home Loan EMI Calculator
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Calculate your Home Loan EMI

A home loan EMI calculator is an important tool in your journey to take a home loan successfully. It helps you calculate your home loan EMI quickly and decide on the ideal loan tenure so that your EMI can be managed within your monthly budget with ease. This helps you to make an informed decision about buying a new home.

Using the calculator, you can know how tenor and rate of interest impact your EMIs and explore different repayment schedules that are affordable and suit your needs. Further, the tool shows you the complete breakup of the payment schedule and instalment breakup (principal and interest amount) for the full tenure of the home loan.

It’s an indispensable financial planning tool for a home buyer that lets you decide on the quantum of contribution towards home down payment and ensure timely loan repayments.


Your Results

EMI Payable (Per Month)

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.


Disclaimer: Please note that this calculator is for demonstrative purposes only. Your final EMI amount will depend on a number of factors, and will be disclosed in the schedule shared with you after loan approval. For more details, please contact us.

How does Fullerton Grihashakti Home Loan EMI Calculator work?

The Fullerton Grihashakti Home Loan EMI Calculator uses three basic inputs- home loan amount, rate of interest, and loan tenure.

Enter the home loan amount you are considering borrowing and the applicable rate of interest into the relevant field. Using the slider, adjust the loan tenure and the calculator will automatically reflect the estimated EMI for the loan tenure.

The calculator also provides an amortization schedule that contains details of the year-wise repayment schedule for the entire loan tenure.

What is a Home Loan EMI Calculator?

Home loan calculator is an online free tool to calculate housing loan EMI based on the factors like home loan amount, rate of interest and loan tenure.

It also functions as a home loan interest calculator as it displays the interest component of the home loan during the entire loan tenure. Please do note however, that the final interest rate offered to you will depend on a number of factors such as your overall eligibility and Fullerton Grihashakti’s policy at the time of loan application.

The calculator is a very helpful self-planning financial tool for home loan repayment planning to ensure timely EMI repayments and explore various repayment schedules by adjusting the loan amount and loan tenure in the calculator. Do note that the final monthly EMI may also have other components such as insurance and service charges. The EMI calculator provides you a near accurate estimate of your monthly EMI purely based on the loan tenure, interest rate and amount.

What is Home Loan EMI?

EMI stands for equated monthly instalment is a systematic approach to repay the loan by the borrower to the lender in equal and fixed instalments by the end of the loan tenure.

An EMI basically consists of two components- the principal amount and interest due on the outstanding loan amount.

Compared to other categories of loan, the housing loan has a maximum tenure of up to 20 years, and the EMI can be planned according to your repayment capability.

Factors Affecting Home Loan EMI

The home loan EMI is calculated using the following formula:

EMI = [P x R x (1+R) ^N]/[(1+R) ^N-1]

Here, the P stands for the principal amount, R stands for rate of interest and N stands for the number of years.

All online home loan calculators use the above formula to calculate house loan EMI. By adjusting the rate of interest and loan tenure, you can check the EMI under different scenarios and tenure instantly.

For example, a home loan with a maximum tenure of 20 years will have a lower EMI payment compared to loan tenure of 15 years. Although the EMI of a home loan with longer tenure is lower, the overall cost is higher because of the higher interest outflow.

What are the Advantages of Home Loan EMI Calculator?

The many benefits of house loan calculator include:

  • Easy and quick calculation of home loan EMI
  • Helps to choose the right loan tenure based on your disposable income
  • Is free and can be used online from anywhere including mobile and computer
  • Provides accurate results with speed and reliability

What is the Home Loan Amortization Schedule?

While the EMI during the loan tenure remains uniform, the constitution of EMI changes every passing month with each EMI payment.

For instance, at the starting of home loan tenure, the interest component constitutes the major portion of the EMI due to higher interest outstanding. As tenor progresses, the constitution of interest components continue to decline with every EMI payment, thereby increasing the share of the principal component.

This is where the amortization schedule provides the accurate break-up of principal and interest payout in each EMI with their respective balances across the tenor. In short, it provides a roadmap towards the repayment of the home loan and different milestones.

The table helps you in effective tax planning and claim deduction on both the home loan principal and interest repayment under different sections of the Income Tax Act.

When does Home Loan EMI Start and Become Due?

In general practice, the home loan EMI starts from the following month of the loan disbursal and the EMI is due on a fixed date each month, which is notified at the time of disbursal or approval.

In the case of a moratorium on home loan EMI payment is agreed upon, it would start after the predefined period. However, the interest will continue to get added to your home loan during the period of the moratorium.

Can I Prepay My Home Loan?

Yes, you can part-prepay your outstanding home loan amount, which can be several times your home loan EMI. The prepayment will result in a reduction in the outstanding home loan amount, thereby reducing your net interest expenses.

What are the Documents Required to Avail a Home Loan from Fullerton Grihashakti?

  • Proof of Identity (AADHAR*, PAN, VoterID, Employee Card)
  • Proof of Residence (AADHAR*, Utility Bill, Ration Card, Property Tax)
  • Proof of Income- Salaried Professional (Last 3-months salary slip, 2 yrs Form-16, 6-months bank statement with salary credits)
  • Proof of Income-Self-employed (Last 2 yrs ITR with computation, CA-audited financials, 6-months primary bank statement)
  • Documents of the home property you wish to purchase

*Terms and conditions applicable. Loans are sanctioned at the discretion of Fullerton Grihashakti. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines


What is a Home Loan EMI?

EMI stands for equated monthly instalments. Home Loan EMIs are a systematic and planned way of repaying the home loan over a period along with interest.

How is Home Loan EMI calculated?

Your home loan EMI is calculated using a mathematical formula P*R*[(1+R) ^n)/(1-(1+R) ^n]. Here, P stands for the principal amount or the amount borrowed as a home loan, R is the home loan interest rate, n is the number of monthly instalments.

Do note that your final EMI may also contain other components such as insurance, service charges, etc. which will depend on the terms in the loan agreement.

How does a Home Loan EMI calculator work?

A home loan calculator helps to calculate the home loan EMI accurately and quickly. It requires three inputs, the home loan amount, interest rate, and loan tenure to calculate the EMI payable.

Using the home loan EMI calculator, you can know the home loan EMI amount for different loan tenure, which will help you to plan repayments effectively. EMI calculators however, cannot factor in any additional components such as insurance. However, they give a very near accurate estimate of your monthly EMI.

What is the maximum tenure of a home loan?

The maximum tenure of a home loan offered by Grihashakti is 30 years; however, the actual home loan tenure depends on your current age and the maximum age limit for home loans as per Grihashakti’s policy.

How is the home loan interest rate determined?

The home loan interest rate is determined by multiple factors like the nature of the property, borrower’s creditworthiness, age, home loan amount, the quantum of down-payment, monthly income, existing debts, loan tenure, and Grihashakti’s policy at the time of loan application.

How does prepayment of outstanding home loan amounts affect home loan EMIs?

During the loan tenure, you can part-prepay your home loan amount multiple times. This helps to reduce the outstanding home loan amount and reduction in interest costs.

Part-prepayment doesn’t affect your home loan EMI amount, but the portion of interest component in the EMI amount gets reduced, thereby increasing the percentage of principal repayment. This results in reduced home loan tenure.

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